GMR may rope in Brazilian construction giant Queiroz Galvao as a partner to bolster its bid to carry out airport modernization projects at some of Brazil's busiest airports. Queiroz Galvao is one of the largest privately held construction conglomerates in Brazil and had revenues of over $4 billion in 2010 as per details available in the company's annual report. The company also has operations in the areas of real estate development and oil and gas exploration. The company is also in talks to put together a consortium of banks to fund its bid. The deadline for submitting technical and financial bids for the airport projects has been set at 30th January.
GMR may finally bid only for the Guarulhos airport expansion project at Sao Paulo as it is the most lucrative and busiest airport in Brazil. The projected capex for the airport modernization project at Guarulhos alone could be close to $8 billion. Brazil's government will also auction off concessions at Viracopos airport in Sao Paulo and the airport in the capital city of Brasilia to bidders selected through an auction process. Domestic air traffic in Brazil has been growing at double digit rates and airports are frequently overcrowded making the expansion drive necessary to cope with the projected increase in passenger traffic due to these mega sporting events.